1. Prologue
The Arowana (ARW) Project is a block chain that processes the value of physical assets, including gold. It aims to provide a platform that can certify, exchange, and trade physical assets as digital assets to increase the ease of physical asset trade by an individual by contributing to the nurturing of business based on high credibility of innovative IT technologies including block chain, artificial intelligence, and cloud.
Gold has carried a meaningful significance as the most important asset with real value throughout history to this day. However, it has various problems, such as the lack of trust in the quality, the lack of transparency in transactions, double taxation, etc. Additionally, not everyone can easily participate in gold trading because its transport and distribution around the world are not as freely exercised as real assets. Companies set their own standards and use them in consideration of the international market price and supply and demand situation, but it is not consistent, and in most cases, profits are made through single-shot trading. There is a difference between the price of imported gold and the price of gold purchased by the general public. Also, the trading process is so complex and opaque that untracked transactions are commonplace. If individuals buy gold 20% cheaper than the international market price and then sell it abroad, they can earn a profit, but this can also lead to negative transactions and outflow of wealth. As shown above, there are a lot of complex considerations in the gold value link.
To make such physical asset-linked assets to be used easily and safely, this project provides physical asset-linked service (payment, point system, etc.), digital asset service (NFT market, DeFi, etc.), and commerce service by adding reliability and security and connecting various innovative IT technologies like a net in the arowana platform ecosystem. Through these, holders of physical assets (gold, etc.) and arowana tokens can use a functional and profitable business model at the least expense.
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